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Thai Accounting Standards (TASs) compare to

International Financial Reporting Standards (IFRS)


(As of December 28, 2006)

Reviewed by Dr. Angkarat Pribjrivat


Chair,
Accounting Standard Setting Committee
Federation of Accounting Professions

IFRS/IAS Topic TAS /1


Current Status
No. No.
IFRS 1 First-time Adoption of International Financial - Not Relevant to Thailand
Reporting Standards (effective 2004)
IFRS 2 Share-based Payment (effective 2005) n.a. Make a Formal Declaration to adopt the principle
IFRS 3 Business Combinations (effective 2004) n.a. Make a Formal Declaration to adopt the principle
IFRS 4 Insurance Contracts (effective 2005) n.a. Make a Formal Declaration to adopt the principle
IFRS 5 Non-current Assets Held for Sale and n.a. Make a Formal Declaration to adopt the principle
Discontinued Operations (effective 2005)
IFRS 6 Exploration for and Evaluation of Mineral Assets n.a. Make a Formal Declaration to adopt the principle
(effective 2006)
IFRS 7 Financial Instruments: Disclosures (effective n.a. Make a Formal Declaration to adopt the principle
2007)
IAS 1 Presentation of Financial Statements (effective 35 Issued Exposure Draft
2005)
IAS 2 Inventories (effective 2005) 31 Issued Exposure Draft
IAS 3 (Superseded by IAS 27 and IAS 28)
IAS 4 (Superseded by IAS 16, 22 and 38)
IAS 5 (Superseded by IAS 1)
IAS 6 (Superseded by IAS 15)
IAS 7 Cash Flow Statements (effective 1994) 25 Full Implement
IAS 8 Accounting Policies, Changes in Accounting 39 Make a Formal Declaration to adopt the principle
Estimates and Errors (effective 2005)
IAS 9 (Superseded by IAS 38)
IAS 10 Events After the Balance Sheet Date (effective 52 Full Implement
2005)
IAS 11 Construction Contracts (effective 1995) 49 Full Implement
IAS 12 Income Taxes (effective 2001) 56 Make a Formal Declaration to adopt the principle
IAS 13 (Superseded by IAS 1)
IAS 14 Segment Reporting (effective 1998) 50 Make a Formal Declaration to adopt the principle
IAS 15 (Superseded by IAS 23)
IAS 16 Property, Plant and Equipment (effective 2005) 32 Issued Exposure Draft
IAS 17 Leases (effective 2005) 29 Issued Exposure Draft
IAS 18 Revenue (effective 1995) 37 Full Implement
IAS 19 Employee Benefits (effective 2002) n.a. Make a Formal Declaration to adopt the principle
IAS 20 Accounting for Government Grants and 55 Issued Exposure Draft
Disclosure of Government Assistance (effective
1984)
IAS 21 The Effects of Changes in Foreign Exchange 30 Make a Formal Declaration to adopt the principle
Rates (effective 2005)
IAS 22 (Superseded by IAS 3)
IAS 23 Borrowing Costs (effective 1995) 33 Full Implement
IAS 24 Related Party Disclosures (effective 2005) 47 Issued Exposure Draft
IAS 25 (Superseded by IAS 39 and 40)
IAS 26 Accounting and Reporting by Retirement Benefit n.a. Make a Formal Declaration to adopt the principle
Plans (effective 1998)
IAS 27 Consolidated and Separate Financial Statements 44 Issued Exposure Draft
(effective 2005)
IAS 28 Investments in Associates (effective 2005) 45 Issued Exposure Draft
IAS 29 Financial Reporting in Hyperinflationary - Not Relevant to Thailand
Economies (effective 1990)
IAS 30 (Superseded by IAS 32 and IFRS 7)
IAS 31 Interests in Joint Ventures (effective 2005) 46 Issued Exposure Draft
IAS 32 Financial Instruments: Disclosure and 48 Make a Formal Declaration to adopt the principle
Presentation (effective 2005)
IAS 33 Earnings per Share (effective 2005) 38 Make a Formal Declaration to adopt the principle
IAS 34 Interim Financial Reporting (effective 1999) 41 Full Implement
IAS 35 (Superseded by IFRS 5)
IAS 36 Impairment of Assets (effective 2004) 36 Full Implement
IAS 37 Provisions, Contingent Liabilities and Contingent 53 Full Implement
Assets (effective 1999)
IAS 38 Intangible Assets (effective 2004) 51 Issued Exposure Draft
IAS 39 Financial Instruments: Recognition and 48 Make a Formal Declaration to adopt the principle
Measurement (effective 2005)
IAS 40 Investment Property (effective 2005) n.a. Issued Exposure Draft
IAS 41 Agriculture (effective 2003) 57 Issued Exposure Draft

Remark: 1/ Definition of each status are as follows:-

Full Implement Thai Accounting Standards has currently applied and followed IAS Principles (already published in
Royal Government Gazzette)
Issued Exposure Draft Federation of Accounting Professions has finished its exposure draft. In addition, the draft has
already disseminated via the website and/or distribute for hearing from participants.
Make a Formal Declaration Federation of Accounting has already drafted the standards. However, it still under the review
to adopt the principle process and not yet available to public.
Not Relevant to Thailand This IAS Standard is not applicable to Thailand Business Environment.

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